Carbonate Market in the Philippines
Market Overview
In 
, the Philippine carbonate market decreased by -% to $, falling for the second year in a row after five years of growth. In general, consumption, however, showed a resilient increase. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption remained at a lower figure.
, the Philippine carbonate market decreased by -% to $, falling for the second year in a row after five years of growth. In general, consumption, however, showed a resilient increase. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption remained at a lower figure.Consumption
In , consumption of carbonates and peroxocarbonates was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a temperate expansion. Over the period under review, consumption reached the maximum volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.
The size of the carbonate market in the Philippines stood at $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate strong growth. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption remained at a lower figure.
, consumption of carbonates and peroxocarbonates was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a temperate expansion. Over the period under review, consumption reached the maximum volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.The size of the carbonate market in the Philippines stood at $
in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate strong growth. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption remained at a lower figure.Market Forecast
Driven by increasing demand for carbonates and peroxocarbonates in the Philippines, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Carbonate market in the Philippines consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.Trade Balance
The Philippines remains a net importer of carbonate; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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